Middle-class homes, clustered in neighborhoods fencing the area, give way to overgrown trees. Dozens of platted side streets lay fallow, home only to exotic weeds. There are more gopher tortoises living on the land than people.

Welcome to Murdock Village -- an 1,110-acre stretch of deserted property in the heart of Port Charlotte that many developers consider the biggest real estate flop of the past decade in Southwest Florida.

"It's a disaster," said Carlos Beruff, owner of Bradenton-based Medallion Home, which just sold out its Bobcat Trail community nearby. "It just makes zero sense to develop."

More than 10 years since Murdock Village was first proposed as a mini Lakewood Ranch with a mix of downtown-style commercial and housing development, the massive tract has failed to attract a suitor -- despite the market's housing uptick following the historic collapse.

A series of grandiose concepts -- from traditional single-family subdivisions to a water park resort and even a European flea market -- have failed to materialize.

And now, with a debt load increasingly difficult to shoulder, many of the region's most influential developers maintain there are few answers in sight.

"Charlotte County is at a huge disadvantage over private land sellers because all of the negotiations are in the sunshine," said Pat Neal, owner of Neal Communities, the most active builder in Sarasota and Manatee counties last year.

"The problem with Murdock Village is the millions of dollars in debt," he added. "Traditionally, local governments don't attempt to develop a property, and here's the reasons why."

A controversial vote

As platted by General Development Corp. in the 1950s, Murdock Village was to contain about 2,500 home sites -- but only 77 houses and three businesses were ever built there.

But in 2003, Charlotte County commissioners, riding the high of a ballooning housing market, saw an opportunity to literally change the landscape and break free from GDC's sprawled development approach.

Through a controversial vote that nabbed national attention, the idea of Murdock Village was born. Commissioners agreed to acquire the entire district from private lot owners to make way for their planned community.

Their timing could not have been much worse.

In the three years it took for Charlotte County to fully acquire the lots at peak-of-the-market prices, the economy began crumbling and dragged property values and demand for new homes down.

The county was left with a total acquisition cost of $119 million, sparse interest from viable developers and a lawsuit claiming eminent domain was used to force some people out of their homes. The court ultimately sided with the county.

"Every prospect that came into the county, we really took the time to vet thoroughly," county administrator Ray Sandrock said. "We didn't dismiss any possibilities."

Plans but no action

Stock Development, of Naples, and Palm Beach developer Syd Kitson each proposed building out the village's 870-acre developable portion with a mix of homes, retail and general commercial space.

But the upfront costs to build and a lack of basic infrastructure caused each to fold as the housing market further tumbled.

Other formal plans -- including one from an Abu Dhabi investment group led by someone with a criminal record -- met similar fates. The Abu Dhabi group actually cost the county $30,000 in background work alone, public records show.

The same was true when a concert producer wanted to build a live entertainment park, similar to theaters in the popular Branson, Mo., there. He never could drum up the $200 million needed.

Even ideas for a European-style, open-air market with vacation housing were floated. Nobody bit.

"I don't think anybody envisioned we would be where we are today," county attorney Janette Knowlton said. "The property was a jewel. It still is a jewel."

Out of the darkness

Amid all the darkness, Murdock Village's prospects began to brighten in 2011, when the county traded about 137 acres -- just a short walk from a new $27 million minor league baseball stadium -- to prominent Punta Gorda developer Bruce Laishley.

Laishley's company, Southwest Land Developers, planned to use its expertise to find a deal that could work. In return, the county would receive about 33 acres near the Punta Gorda airport better suited for economic development. But like past incarnations of Murdock Village, after two years the properties still have not actually changed hands.

At the time the swap was approved, Laishley was close to bringing in Wisconsin-based Wilderness Resorts to anchor a new entertainment district.

Plans for the $120 million resort ultimately wilted, though, the result of stiff financing requirements and the massive infrastructure work needed, said Gary Bayne, of Southwest Land Developers. The county's present water-and-sewer system can only support the first 250 to 300 acres, or about 1,000 homes. Beyond that, Bayne estimates, about $85 million worth of major infrastructure improvements will be needed.

He added that the county also has not fulfilled a promise to deal with the endangered and protected gopher tortoises, gas easements that need to be removed or even produce a comprehensive master-plan development -- all steps that have prevented builders from moving forward there. The county has done some work, though: Its planning department put in costly environmental stipulations, like requiring concrete parking lots -- an expense that is three times greater than traditional asphalt, Bayne said.

"When I go to a Kitson or Benderson, they're going to tell me to go shovel sand," he said. "Who's going to pay for something like that? They can go right across the street and do the same development for less money."

Perhaps not surprisingly, Southwest Land Developers no longer has plans to move forward with the swap.

Fields of dreams

Charlotte County officials say they still have a deal pending with Ripken Baseball to build youth tournament fields on the property, a deal which, if successful, would bring tens of thousands of players and their families to the county for weeks at a time.

Though the market for housing projects has rebounded throughout the region, that interest has not extended to Murdock Village.

That is because, at market rates, the village's dirt would sell today for about $5 million, or roughly $5,000 an acre. But for the county to break even, it would require at least $120 million, property records show.

And market forces still don't favor new development on a significant scale in Charlotte County. Based on current sales activity, there was about a 6.4 month supply of resale listings in December. By comparison, that inventory level is 4.6 months in Manatee and 3.9 months in Sarasota.

Markets are considered in balance when supply equals six months, and many so-called spec home developers refuse to build unless a market is balanced or close to it.

Meanwhile, new homes in North Port and Port Charlotte are selling in the $70 to $80 per square foot range, well below the cost of production for many builders, like Neal Communities. All of which means Charlotte County may have to contend with the status quo at Murdock Village for years to come.

"That area does not lend itself to high-dollar developments," said Barry Seidel, president of American Property Group of Sarasota Inc., a commercial real estate brokerage firm specializing in retail. "But it is a great property, and the time is getting ripe."

<p><em>PORT CHARLOTTE</em> - Down a lonely stretch of pavement in northern Charlotte County, the scenery undergoes a surreal shift.</p><p>The brick roadways, ornamental street lights and pedestrian-friendly sidewalks lining Toledo Blade Boulevard, in North Port, quickly fade as the corridor approaches Tamiami Trail to the west.</p><p>Middle-class homes, clustered in neighborhoods fencing the area, give way to overgrown trees. Dozens of platted side streets lay fallow, home only to exotic weeds. There are more gopher tortoises living on the land than people.</p><p>Welcome to Murdock Village -- an 1,110-acre stretch of deserted property in the heart of Port Charlotte that many developers consider the biggest real estate flop of the past decade in Southwest Florida.</p><p>"It's a disaster," said Carlos Beruff, owner of Bradenton-based Medallion Home, which just sold out its Bobcat Trail community nearby. "It just makes zero sense to develop."</p><p>More than 10 years since Murdock Village was first proposed as a mini Lakewood Ranch with a mix of downtown-style commercial and housing development, the massive tract has failed to attract a suitor -- despite the market's housing uptick following the historic collapse.</p><p>A series of grandiose concepts -- from traditional single-family subdivisions to a water park resort and even a European flea market -- have failed to materialize.</p><p>And now, with a debt load increasingly difficult to shoulder, many of the region's most influential developers maintain there are few answers in sight.</p><p>"Charlotte County is at a huge disadvantage over private land sellers because all of the negotiations are in the sunshine," said Pat Neal, owner of Neal Communities, the most active builder in Sarasota and Manatee counties last year.</p><p>"The problem with Murdock Village is the millions of dollars in debt," he added. "Traditionally, local governments don't attempt to develop a property, and here's the reasons why."</p><p><b>A controversial vote</p><p></b></p><p>As platted by General Development Corp. in the 1950s, Murdock Village was to contain about 2,500 home sites -- but only 77 houses and three businesses were ever built there.</p><p>But in 2003, Charlotte County commissioners, riding the high of a ballooning housing market, saw an opportunity to literally change the landscape and break free from GDC's sprawled development approach.</p><p>Through a controversial vote that nabbed national attention, the idea of Murdock Village was born. Commissioners agreed to acquire the entire district from private lot owners to make way for their planned community.</p><p>Their timing could not have been much worse.</p><p>In the three years it took for Charlotte County to fully acquire the lots at peak-of-the-market prices, the economy began crumbling and dragged property values and demand for new homes down.</p><p>The county's partner on the project, Miami-based Lennar Corp., quickly bailed.</p><p>The county was left with a total acquisition cost of $119 million, sparse interest from viable developers and a lawsuit claiming eminent domain was used to force some people out of their homes. The court ultimately sided with the county.</p><p>"Every prospect that came into the county, we really took the time to vet thoroughly," county administrator Ray Sandrock said. "We didn't dismiss any possibilities."</p><p><b>Plans but no action</p><p></b></p><p>Stock Development, of Naples, and Palm Beach developer Syd Kitson each proposed building out the village's 870-acre developable portion with a mix of homes, retail and general commercial space.</p><p>But the upfront costs to build and a lack of basic infrastructure caused each to fold as the housing market further tumbled.</p><p>Other formal plans -- including one from an Abu Dhabi investment group led by someone with a criminal record -- met similar fates. The Abu Dhabi group actually cost the county $30,000 in background work alone, public records show.</p><p>The same was true when a concert producer wanted to build a live entertainment park, similar to theaters in the popular Branson, Mo., there. He never could drum up the $200 million needed.</p><p>Even ideas for a European-style, open-air market with vacation housing were floated. Nobody bit.</p><p>"I don't think anybody envisioned we would be where we are today," county attorney Janette Knowlton said. "The property was a jewel. It still is a jewel."</p><p><b>Out of the darkness</p><p></b></p><p>Amid all the darkness, Murdock Village's prospects began to brighten in 2011, when the county traded about 137 acres -- just a short walk from a new $27 million minor league baseball stadium -- to prominent Punta Gorda developer Bruce Laishley.</p><p>Laishley's company, Southwest Land Developers, planned to use its expertise to find a deal that could work. In return, the county would receive about 33 acres near the Punta Gorda airport better suited for economic development. But like past incarnations of Murdock Village, after two years the properties still have not actually changed hands.</p><p>At the time the swap was approved, Laishley was close to bringing in Wisconsin-based Wilderness Resorts to anchor a new entertainment district.</p><p>Plans for the $120 million resort ultimately wilted, though, the result of stiff financing requirements and the massive infrastructure work needed, said Gary Bayne, of Southwest Land Developers. The county's present water-and-sewer system can only support the first 250 to 300 acres, or about 1,000 homes. Beyond that, Bayne estimates, about $85 million worth of major infrastructure improvements will be needed.</p><p>He added that the county also has not fulfilled a promise to deal with the endangered and protected gopher tortoises, gas easements that need to be removed or even produce a comprehensive master-plan development -- all steps that have prevented builders from moving forward there. The county has done some work, though: Its planning department put in costly environmental stipulations, like requiring concrete parking lots -- an expense that is three times greater than traditional asphalt, Bayne said.</p><p>"When I go to a Kitson or Benderson, they're going to tell me to go shovel sand," he said. "Who's going to pay for something like that? They can go right across the street and do the same development for less money."</p><p>Perhaps not surprisingly, Southwest Land Developers no longer has plans to move forward with the swap.</p><p><b>Fields of dreams</p><p></b></p><p>Charlotte County officials say they still have a deal pending with Ripken Baseball to build youth tournament fields on the property, a deal which, if successful, would bring tens of thousands of players and their families to the county for weeks at a time.</p><p>But that plan, too, has faced great delays.</p><p>Residential real estate developers, meanwhile, have shown no interest.</p><p>Though the market for housing projects has rebounded throughout the region, that interest has not extended to Murdock Village.</p><p>That is because, at market rates, the village's dirt would sell today for about $5 million, or roughly $5,000 an acre. But for the county to break even, it would require at least $120 million, property records show.</p><p>And market forces still don't favor new development on a significant scale in Charlotte County. Based on current sales activity, there was about a 6.4 month supply of resale listings in December. By comparison, that inventory level is 4.6 months in Manatee and 3.9 months in Sarasota.</p><p>Markets are considered in balance when supply equals six months, and many so-called spec home developers refuse to build unless a market is balanced or close to it.</p><p>Meanwhile, new homes in North Port and Port Charlotte are selling in the $70 to $80 per square foot range, well below the cost of production for many builders, like Neal Communities. All of which means Charlotte County may have to contend with the status quo at Murdock Village for years to come.</p><p>"That area does not lend itself to high-dollar developments," said Barry Seidel, president of American Property Group of Sarasota Inc., a commercial real estate brokerage firm specializing in retail. "But it is a great property, and the time is getting ripe."</p>